CONCENTRATIONS |
9 Months Ended | |
|---|---|---|
Mar. 31, 2016 | ||
| Risks and Uncertainties [Abstract] | ||
| CONCENTRATIONS |
NOTE 10 - CONCENTRATIONS
Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of temporary cash investments. We maintain cash balances at a financial institution in San Diego, California. Our cash balance at this institution is secured by the Federal Deposit Insurance Corporation up to $250,000. As of March 31, 2016, cash totaled approximately $80,000, which consists of funds held in a non-interest bearing bank deposit account. The Company has not experienced any losses in such accounts. Management believes that the Company is not exposed to any significant credit risk with respect to its cash. Customer Concentrations During the three months ended March 31, 2016, the Company had four customers that represented more than 10% of its revenues on an individual basis, representing approximately 92%, in the aggregate. During the nine months ended March 31, 2016, the Company had four customers that represented more than 10% of its revenues on an individual basis, representing approximately 75%, in the aggregate. During the three months ended March 31, 2015, the Company had three customers that represented more than 10% of its revenues on an individual basis, representing approximately 55%, respectively, in the aggregate. During the nine months ended March 31, 2015, the Company had two customers that represented more than 10% of its revenues on an individual basis, representing approximately 33%, respectively, in the aggregate. Suppliers/Vendor Concentrations We obtain components and supplies included in our products from a small group of suppliers. During the three months ended March 31, 2016, we had three suppliers who accounted for more than 10% of our total inventory purchases on an individual basis and approximately 62% in the aggregate. During the nine months ended March 31, 2016, we had two suppliers who accounted for more than 10% of our total inventory purchases on an individual basis and approximately 50%. During the three months ended March 31, 2015, we had two suppliers who accounted for more than 10% of our total inventory purchases on an individual basis and approximately 44% in the aggregate. During the nine months ended March 31, 2015, we had one supplier who accounted for more than 10% of our total inventory purchases on an individual basis and approximately 20%. |